(10)List down the commercial laws governing E-Commerce?
Answer: Following are some of the commercial laws governing E-Commerce:
(1)Companies Act 2013:
(2)Income Tax Act 1961:
(3)Consumer Protection Act 1986:
(4)The Competition Act 2002:
(5)Indian Contract Act 1872:
(6)Good and Services Tax Act 2017 (GST):
(7)The Factories Act 1948:
(8)Foreign Trade (Development and Regulation) Act 1992:
(9)Foreign Exchange Management Act (FEMA) (1999):
Special Laws Impacting E-Commerce Business in India
(1)Information Technology Act 2000:
(2)The Reserve Bank of India 1932:
(1)Companies Act 2013:
- Most of the merchants in e-commerce/m-commerce business space are companies either private or public.
- Hence Companies Act is applicable to E-Commerce vendors registered as company.
(2)Income Tax Act 1961:
- This act stipulates rules and provisions for taxation of income in India.
- The place of origin of E-commerce transaction is crucial for deciding taxation under this Act.
(3)Consumer Protection Act 1986:
- This law provides guidelines to protect consumer rights.
- Most of the litigations raised for E-commerce transactions are based on the provisions of act.
(4)The Competition Act 2002:
- This act forms a commission to oversee the business operations of companies and individuals in the country following fair practices of competition and economic growth of the country.
- E-commerce entities are also under purview of this law and competition commission.
(5)Indian Contract Act 1872:
- This act defined basic constituents of a contract.
- E-commerce transaction is a contract between buyer and seller and hence basic constituents plays a key role.
(6)Good and Services Tax Act 2017 (GST):
- Goods and Services Tax (GST) is an indirect tax (or consumption tax) levied in India on the supply of goods and services.
- E-commerce business transactions comes under provisions of this Act .
(7)The Factories Act 1948:
- The aim and object of the Act is essentially to safeguard the interests of workers, stop their exploitation and take care of their safety, hygiene and welfare at their places of work
- Merchants in E-commerce business need to comply with this law.
(8)Foreign Trade (Development and Regulation) Act 1992:
- This act has been established to provide for the development and regulation of foreign trade.
- In addition to B2B transactions involving foreign trade, provisions of this law also applicable to individuals who are ordering products from global E-commerce stores.
(9)Foreign Exchange Management Act (FEMA) (1999):
- A Foreign Direct Investment of upto 100% is allowed under provisions of this law in E-commerce business provided that such companies would engage in Business to Business (B2B).
- Foreign Direct investment in Business to Customer (B2C) e-commerce segment (E-commerce retail business) is opened up in calibrated manner and allowed in some specific conditions.
Special Laws Impacting E-Commerce Business in India
(1)Information Technology Act 2000:
- It is the primary law in India dealing with cybercrime and electronic commerce.
- This law also provides framework for penalties and prosecution for noncompliance to its provisions.
(2)The Reserve Bank of India 1932:
- The Reserve Bank of India is India's central banking institution, which frames guidelines to be followed for online payment processing by merchants or payment gateways or banks.
- For example (i)Chip based credit/debit card issuance (ii)PIN enabled transactions (iii)Credit card fraud related guidelines and timelines for addressing complaints